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Bridgeline Digital shares drop after Q4 report

BURLINGTON -- Shares of Bridgeline Digital Inc. plunged 20 percent Wednesday, a day after the company announced its fourth-quarter and year-end financial results.

The company, which develops interactive technology solutions that allow clients to optimize their business processes, reported net income of $268,000 (2 cents per share), a slight rise from the year-ago figure of $250,000 (2 cents per share), for the three-month period ending Sept. 30.

Quarterly revenues were $6.7 million, up from $6.6 million in the same quarter a year earlier.

Only one analyst offered a forecast for the company, and it was for a net loss of a penny on revenues of $6.9 million.

For fiscal 2012, Bridgeline reported net income of $470,000 (4 cents per share) on revenues of $26.3 million. The fiscal 2011 numbers were net income of $387,000 on revenues of $26.3 million.

Shares of Bridgeline closed Wednesday at $1.80, down 45 cents, in Nasdaq trading.

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